Pictet Asset Management has launched a Luxembourg-domiciled UCITS fund that invests in family-owned businesses and will aim to outperform the broader global equity market.
The Pictet Family fund will be co-managed by Geneva-based Alain Caffort and Cyril Benier, who will invest in listed businesses where a founder or family holds at least 30% of the voting rights, which will leave them with a global investable universe of approximately 500 companies. According to the firm's research, family-owned enterprises are typically more profitable for long-term investors than their peers due to strong values, active ownership and a "heightened long-term focus combined with succession planning". Pictet's Diana: Holdings must be more than 'good citizens' Caffort ...
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